Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Cross Asset Strategy

<ul><li>The SET Index is expected to move sideways down, with the resistance at 1,650/1,660 points and the support at 1,620/1,610 points.</li><li>Technically, the index is moving on a downtrend; there will be a new sell signal if it falls below the major support at 1,617 points (20-day EMA).</li><li>Negative momentum may be generated by increasing concern over a US economic recession if the Fed decides to raise interest rates more aggressively than expected – this would trigger the risk-off mode in investors, causing them to shift to hold safe-haven assets, e.g., cash, long-term government bonds and the USD.</li></ul>

The SET Index is expected to move sideways down, with the resistance at 1,650/1,660 points and the support at 1,620/1,610 points.Technically, the index is moving on a downtrend; there will be a new sell signal if it falls below the major support at 1,617 points (20-day EMA).Negative momentum may be generated by increasing concern over a US economic recession if the Fed decides to raise interest rates more aggressively than expected – this would trigger the risk-off mode in investors, causing them to shift to hold safe-haven assets, e.g., cash, long-term government bonds and the USD.

Equity Bottom-Up

<ul>
<li>No changes have been made to the investment positions in the KTX Tactical Picks portfolio today.</li>
<li>The portfolio benefited from the rebound in energy (BCP, GUNKUL, and TOP) and the ICT sector (TRUE), lifting its average return by 0.55%.</li>
<li>Meanwhile, the SET Index slipped 0.06%, pressured by electronics stocks amid the global selloff in technology shares.</li>
</ul>


No changes have been made to the investment positions in the KTX Tactical Picks portfolio today.
The portfolio benefited from the rebound in energy (BCP, GUNKUL, and TOP) and the ICT sector (TRUE), lifting its average return by 0.55%.
Meanwhile, the SET Index slipped 0.06%, pressured by electronics stocks amid the global selloff in technology shares.


KTX Tactical Picks - July 14, 2026 (Eng.)

<ul>
<li>The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts.</li>
<li>GLOBAL has been removed from the ranking after no longer meeting the selection criteria, delivering a +2.7% holding-period return, and has been replaced by CCET and TRUE.</li>
<li>A strong rebound in key energy stocks lifted the portfolio's return by 0.67%, outperforming the SET (-0.29%), which came under selling pressure from the banking and electronic components sectors.</li>
</ul>


The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts.
GLOBAL has been removed from the ranking after no longer meeting the selection criteria, delivering a +2.7% holding-period return, and has been replaced by CCET and TRUE.
A strong rebound in key energy stocks lifted the portfolio's return by 0.67%, outperforming the SET (-0.29%), which came under selling pressure from the banking and electronic components sectors.


Thematic (Sector/Industry)

<ul><li>The NBTC's 10GB of free data scheme ended with 14.9mn qualified subscribers, below its original target by half.</li><li>Meanwhile, the new free call program will have a negative impact on operators.</li><li>We, hence, retain a Neutral rating for the sector.</li></ul>

The NBTC's 10GB of free data scheme ended with 14.9mn qualified subscribers, below its original target by half.Meanwhile, the new free call program will have a negative impact on operators.We, hence, retain a Neutral rating for the sector.

NBTC's 10GB of Free Data Scheme Fell Short of Estimate

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Key points:</p><ul>
<li>Energy names are showing signs of bottoming with the recent uptick in crude, and weakness in the U.S. dollar</li>
<li>REITs are continuing to firm up as rates have plateaued</li>
<li>Biotech stocks are continuing to show leadership characteristics</li>
</ul><p>Charts highlighted: AFI, ODP, SPWH, CVS, KMB, THS, CHK, KMI, RRC, AXS, ESS, KIM, APTS, KRG, REGN, NERV, NSTG, RARX, AYI, CFX, AXL, PAH, FNSR, TRUE, ALK, HA, SAVE, and PEGI</p>

Key points:
Energy names are showing signs of bottoming with the recent uptick in crude, and weakness in the U.S. dollar
REITs are continuing to firm up as rates have plateaued
Biotech stocks are continuing to show leadership characteristics
Charts highlighted: AFI, ODP, SPWH, CVS, KMB, THS, CHK, KMI, RRC, AXS, ESS, KIM, APTS, KRG, REGN, NERV, NSTG, RARX, AYI, CFX, AXL, PAH, FNSR, TRUE, ALK, HA, SAVE, and PEGI

Technically Attractive U.S. Stocks for Value Investors

United States

TrueCar, Inc. develops and publishes an online automotive information and communication platform. The Company provides data and price reports for cars both online and over the phone for consumers and a communications platform for automobile dealers to communicate with consumers. TrueCar serves customers throughout the United States.

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Truecar Inc (TRUE US)

Market Outlook

The SET Index is expected to move sideways down, with the resistance at 1,650/1,660 points and the support at 1,620/1,610 points. Technically, the...

Krungthai XSpring

KTX Tactical Picks - July 14, 2026 (Eng.)

No changes have been made to the investment positions in the KTX Tactical Picks portfolio today. The portfolio benefited from the rebound in...

Krungthai XSpring

KTX Tactical Picks - July 6, 2026 (Eng.)

The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts. GLOBAL has been...

Krungthai XSpring

NBTC's 10GB of Free Data Scheme Fell Short of Estimate

The NBTC's 10GB of free data scheme ended with 14.9mn qualified subscribers, below its original target by half. Meanwhile, the new free call...

Krungthai XSpring

Technically Attractive U.S. Stocks for Value Investors

Key points: Energy names are showing signs of bottoming with the recent uptick in crude, and weakness in the U.S. dollar REITs are continuing to...

Vermilion Research

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